Company Also Reports Q1 2019 Financial Results
The Board of Directors of FSD Pharma Inc. (HUGE.CN) (FSDDF) (0K9.F) ("FSD" or the "Company"), unanimously voted Raza Bokhari, M.D., Executive Co-Chairman of the Board, as permanent Chief Executive Officer. Dr. Bokhari has served as interim CEO of the Company since February.
“It is a high honor to assume such an awesome responsibility at this very important inflection point in our Company’s history,” said Dr. Bokhari. “I am counting on our hardworking and enterprising team, our esteemed board members and the generous support of our shareholders and stakeholders to guide me in my role as CEO. We aim to deliver sustainable, positive shareholder value in this groundbreaking, disruptive cannabinoid-based industry where we hope to have the potential to help alleviate pain and suffering for people around the world, through the use of medicinal grade cannabis and synthetic and biosynthetic cannabinoid pharmaceuticals.”
Anthony Durkacz, FSD founder & Executive Co-Chairman said, “As interim CEO, Dr. Bokhari has already navigated the company through some tough decisions, and he is rapidly advancing our strategic vision and mission to become a market leader in medicinal cannabis and cannabinoid pharmaceutical applications.” It was a logical and easy decision for the board to unanimously appoint Dr. Bokhari permanent CEO in addition to his role as the Executive Co-Chairman. I have no doubt in my mind that he will lead FSD to better days ahead.”
Dr. Bokhari brings a wealth of knowledge in global business and healthcare services. He currently serves as the Chairman of the Board of PCL, a nearly 50-year-old global diagnostic provider of addiction screening and opioid prescription medication monitoring, including designer drugs and synthetic cannabinoids. He is also the managing partner of RBxCapital, LP, a multi-strategy, multi-stage PE fund focused on investing primarily within the healthcare and cannabinoid space. Dr. Bokhari is the Recipient of Philadelphia Business Journal’s “40 under 40” award and has over the past several years developed outstanding expertise in aggregating and accelerating life sciences and healthcare services companies. He has a vast knowledge base of developing creative concepts, implementing programs and forming strategic alliances. Dr. Bokhari has a Doctor of Medicine degree from the University of Punjab, Rawalpindi Medical College, and an Executive MBA from Temple University, Fox School of Business & Management.
On May 30, the company also reported its financial results for the three months ended March 31, 2019. These filings are available for review on the Company's SEDAR profile at www.sedar.com.
About FSD Pharma
FSD Pharma is focused on the development of the highest quality indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome. The Company has 25,000 square feet that is licensed at its Ontario facility and expansion is currently underway.
FSD facilities sit on 70 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 square feet by 2025.
FSD's wholly-owned subsidiary, FV Pharma, is a licensed producer under the Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its Sale for Medical Purposes license on April 18, 2019. FV Pharma's vision is to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world. FV Pharma intends to cover all aspects of this exciting new industry, including cultivation, legal, processing, manufacturing, extracts and research and development. For additional information on the company, please visit our website at www.fsdpharma.com.
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Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on FSD Pharma’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Actual results and developments may differ materially from those contemplated by these. The forward-looking information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.